Southridge Capital Management LLC Announces Clarification Regarding Financing of Imaging Diagnostic Systems, Inc.7 April 2006
Southridge Capital Management LLC, a Registered Investment Adviser ("Southridge") has announced a clarification of its March 23, 2006, press release titled "Southridge Capital Management LLC Managed Funds to Provide Up to $15 Million in Financing to Imaging Diagnostic Systems, Inc." The comments in the March 23 press release of Tim Hansen, Chief Executive Officer of Imaging Diagnostic Systems, Inc. ("IDSI") and Stephen Hicks, Founding Principal at Southridge, may have appeared to imply that Southridge provided the referenced $15 million equity financing facility and prior financing. In fact, as stated elsewhere in the March 23 press release, and as confirmed by IDSI's press release today, the $15 million facility was provided by a fund advised by Southridge. The name of the fund is Charlton Avenue LLC ("Charlton"). The prior financing referenced was also provided by Charlton and other funds advised by Southridge. Southridge regrets any misunderstanding caused by the March 23 press release.
Source: prnewswire
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